Online Auctions Fail to Impress – Kevin Turner

  • Auction numbers very sluggish
  • Low consumer sentiment
  • Tough selling conditions

Last week
There were 612 capital city homes taken to auction last week, returning a final auction clearance rate of 47.5%. This was an improvement on the week prior when 41.1% of the 413 auctions returned a successful result.  Last week saw withdrawal rates much lower that what we’ve seen over the past month as the flow of auctions scheduled ‘pre-restrictions’ tapers.
This week and weekend
There are 424 capital city homes scheduled for auction this week, down on the 612 homes auctioned last week. The last few weeks have seen fewer scheduled auctions due to a combination of low sentiment, tough selling conditions and policies preventing open homes and on-site auctions.
Watch for Kevin Brogan’s thoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity and a look inside some successful sales.